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Mar 15, 2011
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stocks sell off on worries about japan. the dow fell 51 points, the nasdaq lost 14 and the s&p 500 was down seven. trading volume started the week with 962 million shares moving on the big board and 1.8 billion on the nasdaq. fed chairman ben bernanke meets with his interest rate committee tomorrow. topping its agenda? whether to change its $600 billion bond-buying program that's set to expire june 30. some members fear the bond buys could spur inflation when combined with rising prices for food, fuel and other commodities. but former fed staffer vince reinhart thinks the fed will stay the course. >> they probably won't do anything to touch any of the characterizations of policy, because they don't want market participants to get confused or think they're going to be rushing for the exits anytime soon or, given the tension in the objective, adding to the overall amount of qe2. >> susie: and the nasdaq could be making a bid for its arch rival, the new york stock exchange. reports say the nasdaq omx group has lined up $5 bill
stocks sell off on worries about japan. the dow fell 51 points, the nasdaq lost 14 and the s&p 500 was down seven. trading volume started the week with 962 million shares moving on the big board and 1.8 billion on the nasdaq. fed chairman ben bernanke meets with his interest rate committee tomorrow. topping its agenda? whether to change its $600 billion bond-buying program that's set to expire june 30. some members fear the bond buys could spur inflation when combined with rising prices for...
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Mar 30, 2011
03/11
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tepco is the region's largest utility, and provides power to a third of japan's population, but with most of its nuclear power and other energy plants sidelined by the earthquake, tokyo is confronting huge power shortages, especially this summer. the nationalization rumors-- discounted by japanese officials-- sent tepco shares to their lowest level in almost 50 years. the fukushima disaster may not end japan's heavy dependence on nuclear energy, but it's likely to permanently alter the cozy ties between nuclear power companies and their regulators. lucy craft, "nightly business report," tokyo. >> susie: happy birthday, starbucks! while the world's biggest coffee chain has been celebrating all month, it officially turns 40 tomorrow. thanks to starbucks, a "half-caf grande dry cap" is now part of our vocabulary. but, three years ago, starbucks was in bad shape. profits were down, so founder howard schulz returned as c.e.o. to save the company. he details that comeback in his new book out today. it's called "onward: how starbucks fought for its life without losing its soul." earlier tod
tepco is the region's largest utility, and provides power to a third of japan's population, but with most of its nuclear power and other energy plants sidelined by the earthquake, tokyo is confronting huge power shortages, especially this summer. the nationalization rumors-- discounted by japanese officials-- sent tepco shares to their lowest level in almost 50 years. the fukushima disaster may not end japan's heavy dependence on nuclear energy, but it's likely to permanently alter the cozy...
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Mar 16, 2011
03/11
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japan. the nikkei lost more than 10%. most european markets also fell. the question for investors is what to do now? is the stock market overreacting to the crisis in japan, or does it pose a major threat to global growth? market strategist alec young says the answer depends on the extent of the damage to japan's nuclear plants. >> unless we are really looking at a repeat of chernobyl, where we had a major nuclear meltdown and radiation spreads throughout tokyo, and it really takes their economy offline for a very long period of time, i think anything short of that has already been priced in. >> reporter: but there are also concerns about disruptions to global economic supply lines. japan is home to many of the world's biggest manufacturing and electronics companies. instead of selling those stocks, some strategists say "buy them." >> i think long-term investors would be rewarded, looking at the best of breed type of companies-- big export manufacturers in the auto space, in the electronics
japan. the nikkei lost more than 10%. most european markets also fell. the question for investors is what to do now? is the stock market overreacting to the crisis in japan, or does it pose a major threat to global growth? market strategist alec young says the answer depends on the extent of the damage to japan's nuclear plants. >> unless we are really looking at a repeat of chernobyl, where we had a major nuclear meltdown and radiation spreads throughout tokyo, and it really takes their...
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Mar 23, 2011
03/11
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lucy craft reports from tokyo. >> reporter: japan's food ban only applies to spinach and milk. but as expected, the radiation scare has prompted a number of retailers to shun all produce from the four states closest to the troubled nuclear plant. japanese officials say fear about health risks is overblown. the government is rushing to issue new guidelines for safe radiation levels in food. compensation to farmers who are being forced to dump their milk and spinach will expand the burgeoning cost of relief and recovery from the quake, tsunami, and nuclear plant disaster. the government is preparing a budget of about $120 billion to deal with the most urgent issues-- clearing debris and providing prefab dwellings for the nearly half-million homeless. supplementary budgets are expected later. meanwhile, the crisis has triggered a parts shortage that continues to sideline japanese auto makers. an estimate by goldman sachs says that idle plants are costing toyota alone $37 million a day. lucy craft, "nightly business report," tokyo. >> tom: still no word tonight on when japanese fac
lucy craft reports from tokyo. >> reporter: japan's food ban only applies to spinach and milk. but as expected, the radiation scare has prompted a number of retailers to shun all produce from the four states closest to the troubled nuclear plant. japanese officials say fear about health risks is overblown. the government is rushing to issue new guidelines for safe radiation levels in food. compensation to farmers who are being forced to dump their milk and spinach will expand the...
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Mar 22, 2011
03/11
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japan is very important to tiffany. 18% of its business comes from japan, and tiffany resisted making predictions about sales there after the disaster. still, its full-year outlook was better than expected. leading to today's rally. and that's tonight's "market focus." >> tom: the big deal for the stock market today with at&t wireless buying t-mobile promises billion of dollars in cost savings. tonight's "beyond the scoreboard," our look at the business of sports, starts with whether some of those savings could come from sports sponsorships. rick horrow is a sports business analyst and c.e.o. of horrow sports ventures. >> so how about it here, the two companies together is a that they can save upwards of 40 billion dollars, most of that coming from job cuts. how much could come from sponsorships. >> well, the world in one cell phone company, it's a great thing. but usual category competition is good for properties because it bids up the rights and category integration is not. this is one of those cases. these two companies spend billions on sports sponsorship over the years and now th
japan is very important to tiffany. 18% of its business comes from japan, and tiffany resisted making predictions about sales there after the disaster. still, its full-year outlook was better than expected. leading to today's rally. and that's tonight's "market focus." >> tom: the big deal for the stock market today with at&t wireless buying t-mobile promises billion of dollars in cost savings. tonight's "beyond the scoreboard," our look at the business of sports,...
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Mar 26, 2011
03/11
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fresh numbers out of japan tonight on how its massive earthquake will impact auto production. the nikkei newspaper reports the nation's manufacturers will cut annual auto production by 5% or about 400,000 units. with the japanese still trying to get their nuclear crisis under control, the united nations says its time to re- assess nuclear safety. specifically, the u.n. secretary general wants to make sure there's an international emergency response plan in place. >> susie: still ahead, investors are taking a fresh look at silicon valley's young entreprenuers. we look at what's driving the resurgence of venture capital funding. >> tom: polls show investors like the job the federal reserve is doing, but the central bank's approval rating is lower than that of the irs. that assumes you know who ben bernanke is. a separate survey finds seven out of ten americans don't know he's the fed chairman. so now that the federal reserve is going to hold regular press conferences, what will the world's most powerful central bank have to say to the american people who may not know him. darren
fresh numbers out of japan tonight on how its massive earthquake will impact auto production. the nikkei newspaper reports the nation's manufacturers will cut annual auto production by 5% or about 400,000 units. with the japanese still trying to get their nuclear crisis under control, the united nations says its time to re- assess nuclear safety. specifically, the u.n. secretary general wants to make sure there's an international emergency response plan in place. >> susie: still ahead,...
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Mar 17, 2011
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still, japan will rebuild, even if it takes many years. the devastation is likely to tip japan into another recession in the near term. but economist nariman behravesh predicts reconstruction will ultimately give the economy a nice boost. >> at the end of this year and through next year, it could add as much as half to maybe even a full percentage point to growth of the japanese economy. so, it's actually going to be good news starting in about the third quarter. >> reporter: what will japan need to rebuild? in a word, "everything." japan does not produce any raw materials, and it will have to buy everything from iron ore to large scale machinery. urban planner and professor rae zimmerman says rebuilding japan will be one of the most difficult tasks the world has ever faced. >> one of the main challenges is rebuilding our infrastructure and housing and actually getting people to come back to an area that may be contaminated with radiation. this is going to be very unique to this situation. >> reporter: the rebuilding is expected to cost at
still, japan will rebuild, even if it takes many years. the devastation is likely to tip japan into another recession in the near term. but economist nariman behravesh predicts reconstruction will ultimately give the economy a nice boost. >> at the end of this year and through next year, it could add as much as half to maybe even a full percentage point to growth of the japanese economy. so, it's actually going to be good news starting in about the third quarter. >> reporter: what...
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Mar 29, 2011
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meanwhile, damage at japan's auto parts makers has ford motor idling a european plant. the plant in belgium will shut for five days starting monday, to conserve parts. and, if you want to order a ford f150 pickup, you might not get it in tuxedo black. ford has stopped taking orders for some specialty colors as a paint pigment supplier near japan's disaster zone remains closed. >> suzanne: a potential billion- dollar battle takes center stage at the supreme court tomorrow. it's a massive sex- discrimination lawsuit against retail giant walmart. the suit claims millions of former and current employees were discriminated against because they are women. as darren gersh reports, the issue before the justices is who should represent the interests of all those women. >> reporter: for years, chris kwapnoski trained men who were soon promoted over her at wal- mart. eventually, she asked a manager what she had to do to get ahead. >> and he told me i need to blow the cobwebs off my makeup and doll up. >> reporter: at the time, kwapnoski was working in the back of the store taking
meanwhile, damage at japan's auto parts makers has ford motor idling a european plant. the plant in belgium will shut for five days starting monday, to conserve parts. and, if you want to order a ford f150 pickup, you might not get it in tuxedo black. ford has stopped taking orders for some specialty colors as a paint pigment supplier near japan's disaster zone remains closed. >> suzanne: a potential billion- dollar battle takes center stage at the supreme court tomorrow. it's a massive...
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Mar 12, 2011
03/11
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a state of emergency in japan tonight. officials are still trying to assess the scope of the damage and casualties from that massive earthquake. susie, the magnitude of the quake 8.9 is the strongest on record in japan. >> susie: tom, it's still not clear what the devastating earthquake will do to japan's fragile economy and the global markets. here in the u.s. despite the japan's stock index tumbled almost 180 points closing just minutes after the earthquake hit. >> tom: we spoke with our correspondent in tokyo. and began by asking lucy craft what's the initial assessment of damage to businesses and industry in japan. >> companies hit quite hard. sony, hond on, toyota, the major auto makers have a lot of factories up in northeastern japan. there's been a range of damage to these companies. so those factories will be kind of knocked out of operation for various amounts of time. fortunately, the northeastern area of japan is very sparsely populated. this is -- if you compare this to the kobe earthquake of 16 years ago, it a
a state of emergency in japan tonight. officials are still trying to assess the scope of the damage and casualties from that massive earthquake. susie, the magnitude of the quake 8.9 is the strongest on record in japan. >> susie: tom, it's still not clear what the devastating earthquake will do to japan's fragile economy and the global markets. here in the u.s. despite the japan's stock index tumbled almost 180 points closing just minutes after the earthquake hit. >> tom: we spoke...
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Mar 24, 2011
03/11
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japan also said today radiation has spread beyond the area surrounding its crippled nuclear power plant. the city of tokyo says its drinking water isn't safe for infants because radiation levels are double safe limits. it's urging residents to refrain from hoarding bottled water. separately, toyota motor said it will halt some north american production because of parts shortages in japan. it's not sure how many shifts will be down, or for how long. >> tom: still ahead, as seen with this week's big telecom deal, big buyouts are alive and well, and that has tonight's "street critique" guest buying the bankers behind the buying. hilary kramer joins us. >> susie: a very big name on the witness stand today at the raj rajaratnam insider trading trial-- lloyd blankfein, c.e.o. of goldman sachs. blankfein testified that a former board member, rajat gupta, gave rajaratnam confidential information valued at $17 million-- tips about a possible acquisition of wachovia bank and the $5 billion investment in the firm by warren buffett's berkshire hathaway. joining us now with analysis of the trial? st
japan also said today radiation has spread beyond the area surrounding its crippled nuclear power plant. the city of tokyo says its drinking water isn't safe for infants because radiation levels are double safe limits. it's urging residents to refrain from hoarding bottled water. separately, toyota motor said it will halt some north american production because of parts shortages in japan. it's not sure how many shifts will be down, or for how long. >> tom: still ahead, as seen with this...